Our steady pace continues with buyers going to closing and writing offers. Overall another good week, with six closings, three contracts, ten new listings (one of which is already under contract), and four price changes. Our inventory grew by five, closing the week with 270 active MLS listings in the Cape San Blas, Indian Pass and C-30 Corridor market, with 93 homes and 177 lots.
We’ll start our review of this week’s six sales on the north end of the Cape up in Park Point, where someone snapped up this quarter acre lot measuring 68′ by 169′ that came on the market the last week of May. It was listed for $29,900, but not as a short sale, even though the seller paid $205,000 for it in mid-2004. The county has it valued at $27,500, and on Friday it went for $25,000.
Our next sale is a gulf front lot described as having either 67′ or 74′ of waterfront in Avalon, a micro-subdivision just south of Rish Park. It last sold in mid-2012 for $120,000 as a bank-owned sale. The current seller had it listed for $267,000, just a bit above the county’s assessed value of $250,000, which is exactly what the seller signed the title over for on Wednesday.
Our next two sales are about a mile further south in Seagrass beginning with this 90′ by 120′ “X” zone gulf view lot. It has an interesting sales history, having been sold by the developer in January 2004 for $225,000, re-sold just four months later in May 2004 for $335,000, and then again in January 2005 for $505,000. Today the county has it assessed at $75,00. The sellers had it listed for $139,9000, and picked up a check at closing on Friday for $134,500.
The other Seagrass sale was on a second tier lot, bank-owned, that was listed for $87,500. In January 2004 the developer sold it for $215,000, and those folks sold it the following February for $435,000. The eventually lost it to the bank who sold it Friday for just $72,000.
We’ll walk just a couple of hundred yards south of Seagrass on Haven Road into Ocean Haven for our next sale, a first-tier lot measuring 64′ by 213′ listed for $154,900. The owners bought it from a bank at the end of 2009 for $130,000, and let it go this week for $131,000. The county has it valued at $90,000.
We’ll travel down to the south side of the Cape to Surfside Estates for our sixth and final sale, a short sale on a quarter-acre interior lot on Polaris listed for $23,900, roughly half the county’s assessed value of $45,000. The sellers picked it up in August 2004 for $225,000 and got bank approval this week to let it go for $25,000.
The first of our three contracts is on a gulf front Barrier Dunes unit that came on the market this week as a bank-approved short sale listed for $280,400 and immediately went under contract. It’s a 3-bedroom home, 1,356 unit that the seller bought in early 2006 for $580,000, and the county has assessed for $213,613.
We’ll head off the Cape for the first time today out onto C-30 over by the St. Joe Buffer Preserve to Heron Bay where this 100′ by 547′. 1./25-acre bay front lot went under contract as a short sale with a list price of $99,000, very close to the county’s assessed value of $95,000. In mid-1998 it sold for $45,000, and just seven years later in February 2005 sold again for $575,000. The current sellers bought it in late 2008 for $282,500.
Our last contract is on a gulf front home out towards the tip of Indian Pass. It’s a 3-bedroom, 3-bath, 1,610 square foot home on 50′ of gulf front with an absolutely gorgeous view of St. Vincent Island. The sellers bought it in late 2002 for $569,000, have it listed for $549,000, and the county has it assessed way too low at $325,535.
That’s a wrap for this week. Properties are moving at a brisk pace and I had more calls this week where I’ve unfortunately had to tell people the properties they’ve been considering have gone under contract. If you have your eye on a special place, you need to step up and stake a claim on it or you very well may miss out. Call or text me at 850-227-5197 or shoot me an email to [email protected] and we’ll make a move on it. Thanks for taking time to stop by today and I hope to hear from you soon.